In today’s day and age, though, you can go ahead and add “comfort and experience using business software” to the list.

Because of its computational, data-intensive nature, accounting work has become inseparable from the software applications that enable efficient and accurate financial record keeping.

Software savvy is now among the most marketable job skills a professional accountant can possess. To keep up with the changes, there are a number of things every future accountant should know about how software is affecting their chosen profession.

1. You will use it.

No matter what kind of accounting you specialize in or whether you work for a private company or a public firm, you’ll use accounting software on a daily basis.

Inc.com describes the centrality of software to contemporary accounting this way:

It used to be that keeping “the books” for a business was literally a paper-based process, involving a ledger, lots of columns, and a pencil to record a business’ essential financial data. In the digital age, however, even the smallest business can benefit from a wide variety of small business accounting software products on the market.

2. Employers want accountants with software skills.

According to a survey by Accountemps, the second most in-demand non-traditional skill for accountants was “expertise in information technology.” The study polled a sample of CFOs who ranked the desirability of IT skills in accounting job candidates ahead of “communication skills,” “leadership abilities,” and “customer service orientation”

3. Accounting software isn’t slowing the demand for accountants.

You may have read articles talking about technology eliminating the need for accountants. Don’t believe the hype.

The American Institute of CPA’s (AICPA) reported that 43,252 new accounting graduates were hired in 2014—the largest class of newly hired accountants since the organization began compiling accounting job market data in 1971.

4. Software is driving an evolution in the role of the corporate accountant.

While software might not be eliminating the need for accountants, it is changing their roles.

Software is making the computational, task-oriented style of accounting work a thing of the past. Tedious calculations and long, manual records reviews are out. Jobs relying on accountants to provide strategic insights on business decisions from a financial perspective are in.

Technology advancements have enhanced the accountant’s ability to interpret data efficiently and effectively. He/she now has the ability to interpret the language of business with such ease that the accountant has become a corporation’s most trusted business advisor. Source: CPAPracticeAdvisor.com

(Check out a list of 54 various accounting and other business management application types.)

6. QuickBooks is popular, but not the only option.

With a huge chunk of the small business market share, an extremely low pricetag, and an easy-to-use interface, QuickBooks is the go-to program for many new accountants looking to familiarize themselves with accounting software.

But there are lots of other product options that deserve attention. The software market for medium-sized and enterprise businesses is not nearly so heavily dominated by a single solution. And, medium to large businesses are where many of the accounting jobs are.

7. There are amazing resources available to build accounting software skills.

Most accounting degree programs now include requirements for course work dealing generally with business technology and specifically with accounting software. But additional accounting software training and expertise can help new graduates get a headstart up the job ladder.

8. Learning how to get up to speed on new accounting systems is an important skill to master.

According to Senior Accountant and industry thought-leader, Nate Roth, from Sitzberger Hau & Co, SC, he’s used roughly 30 different individual programs in the last seven years. When it comes to getting up to speed on new software, Roth says that he’s “always found the ‘undo’ button a great help.”

On a more serious note, though, Roth explains that, “Learning systems takes time and hands on practice.” His advice for accountants working with new software is to, “Find the right reports for the decision makers, then tackle how to create those reports as quickly as possible, because accounting data is only useful if it is timely and provides management with the info they need to make decisions.”

9. Software and technology expertise can pad your paycheck.

The median salary for IT accountants outpaced the annual earnings for “senior financial analysts,” “risk and compliance professionals,” and “international accountants,” among many other accounting job specializations.

10. No amount of software knowledge can replace a firm understanding of accounting fundamentals.

A question many accounting students will ask themselves is this: With sophisticated software so readily available, should I focus on learning software or on accounting practices and theory?

The answer of course, is both. Software skills are necessary—but not a substitute for accounting expertise.

In an article published on AccountingToday.com, CPA, Stephen Yoss, had this to say about the value that knowledgeable accountants will continue to provide:

We realize that while our clients might utilize the same accounting tools that we have, they do not have the essential training or expertise to be able to use the tools as effectively as we can. Additionally, they may not be able to translate exactly what the numbers mean, and validate whether the information is accurate. Therefore, they still require the assistance of a financial professional.

Adam Bluemner is a Managing Editor at Software Connect. He's been helping software buyers make informed investments in business software since 2004.

Need a software solution for your business?

You're closer to your answer than you might have guessed! Share your requirements and we'll recommend your top options. Simple. It's fast, free, and easy to access the referral source thousands have counted on since the days of the dot-matrix printer.

Or call (800) 827-1151 to talk to an independent software expert now

Looking for Software to Improve Your Business?

Our advisors have over 15 years experience in helping people find the right software.

Related Posts

Social

Site

About Software Connect

We don’t sell software. We don’t develop it either. What do we do? We help you save time and money by recommending the top software for your specific needs.

Since 1996, we’ve focused on getting really good at one specific thing: understanding software requirements, so we can make great software recommendations. Our directory, advice articles, team of experts, and easy matching process are all designed to help you make the best software decision possible. For more information, read our "about us" page.